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Author Topic: Blockchain is a self-regulating system  (Read 135 times)
Ucy (OP)
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July 17, 2019, 09:23:58 PM
 #1

I wrote those (quoted) below in response to a post here: https://bitcointalk.org/index.php?topic=5165709.0
Blockchain is self-regulating like a human body.  It is not an anarchy. It has built-in rules which the community has to follow. If we want more rules(for example, rules to protect against scams, pump & dump, price manipulation, mining centralization, fake identity etc) we can formulate and encode them in the Blockchain. Blockchain and human body are not centralized but they work well.



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"Anarchy according to an online dictionary is:  a state of disorder due to absence or non-recognition of authority or other controlling systems.
Absence of government and absolute freedom of the individual, regarded as a political ideal." 

BITCOIN SYSTEM IS NOT AN ANARCHY.
Bitcoin a bit like human body... there is a set rule which every part of the body (including the head or brain) follows.
The head or brain can't go against the rules or stop serving some parts of the body it is in disagreements with....An ideal system should work this way.       If the brain stops playing its roles, the hand, mouth, stomach etc won't feed it nor will this parts function anymore and the whole body dies. No part of the body drags the rest backward. They are built on rules, more like  automated rules.

Interestingly,  the human body have nodes-like rules/blueprints which are distributed around the body. this blueprints are why our bodies were assembled correctly, function properly, regrow tissues, transport nutrients to the right places etc . The copies of the blueprints are distributed in every part of the body. All the trillions of cells in our body have a copy of the blueprint each or better still, the blueprints are exactly thesame in every cell... You won't be wrong to call a human body a Natural Blockchain with trillions of nodes.


If  human body doesn't qualify as Anarchy as defined by online dictionaries then blockchain is definitely not Anarchy. Blockchain is self-regulating like Human body.  It should work well without problems just like human body.
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July 17, 2019, 09:26:51 PM
 #2

Not all blockchains are self-regulating. There are actually several private blockchains that have their entire functionality controlled from a single source.

XRP and Stellar are two such examples, and there are plenty of smart contracts that operate with a similar top down approach.
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July 17, 2019, 11:50:21 PM
 #3

Not all blockchains are self-regulating. There are actually several private blockchains that have their entire functionality controlled from a single source.

XRP and Stellar are two such examples, and there are plenty of smart contracts that operate with a similar top down approach.
all of smartcontract assets are following the regulation that created by its mother chain and these assets are only using the platform as an operating system. XRP and Stellar is totally centralized.

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July 18, 2019, 02:50:06 AM
 #4

Not all blockchains are self-regulating. There are actually several private blockchains that have their entire functionality controlled from a single source.

XRP and Stellar are two such examples, and there are plenty of smart contracts that operate with a similar top down approach.
all of smartcontract assets are following the regulation that created by its mother chain and these assets are only using the platform as an operating system. XRP and Stellar is totally centralized.

yes, xrp is pure centralized cryptocurrency, but, personally i don't know about stellar
a centralized crypto just like a bank mate, and thats why many people said to stay away from a kind of crypto with centralized system

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